Rules and Interpretations

Rules

As a registered securities exchange, NYSE Arca is subject to the regulatory oversight of the SEC and all rules must be filed with the SEC pursuant to Section 19(b) of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder.

Options Price Reporting Authority (OPRA)

The Options Price Reporting Authority (OPRA) provides, through Market Data Vendors, last sale information and current options quotations from a committee of Participant Exchanges designated as the Options Price Reporting Authority.

Options Listing Procedure Plan

The U.S. options exchanges and Options Clearing Corporation (OCC) are sponsors of the Options Listing Procedures Plan, a national market system plan, which describes procedures to be followed by the parties in connection with selecting specified underlying interests for listing purposes and requesting a review of such selections.

Decentralized Linkage Plan

Decentralized Linkage is the replacement for the Options Linkage Plan and the OCC Linkage Hub. Under the Linkage Plan participant exchanges used the Options Clearing Corporation (OCC Linkage Hub) for order routing. Under the Decentralized Linkage plan, exchanges will utilize private routing. Decentralized Linkage addresses issues including locked/crossed markets, trade-throughs and the introduction of Intermarket Sweep Orders (ISO).